#SolanaSurge 🔥 Key Drivers Behind Solana’s Surge

1. Launch of the First Solana Spot ETF in Canada

On April 17, 2025, Canada introduced the world's first Solana spot ETF on the Toronto Stock Exchange, leading to a 7% increase in SOL's price, reaching approximately $135 .

2. U.S. Government's Strategic Reserve Announcement

President Donald Trump announced plans to include cryptocurrencies like Solana in a U.S. "Crypto Strategic Reserve," causing significant price spikes across the crypto market. Although the surge was brief, it highlighted growing institutional interest in Solana .

3. Increased Network Activity and Meme Coin Rally

Solana's network saw a substantial influx of activity, partly due to a resurgence in meme coins such as POPCAT and BONK, which experienced gains of up to 79% over the past week .

4. Technical Momentum and Market Sentiment

SOL rebounded from a low of $96 to over $134, supported by increased trading volume. Currently, 71.87% of futures positions are long, indicating bullish sentiment among traders .